Question 1

Can I use AirDNA projections to qualify for a Georgia STR loan?

Accepted Answer

Yes. Unlike traditional banks or even many other DSCR Lenders that require 12 months of operating history, Harpoon Capital allows you to qualify using 100% of AirDNA projected revenue. This is ideal for investors buying new short-term rental properties in Georgia markets like Blue Ridge or Savannah where there is no trailing income history.

Question 2

Can I get a DSCR loan for an Airbnb or VRBO in Georgia?

Accepted Answer

Absolutely. Short-term rentals (STRs) are one of the most common uses for DSCR financing in Georgia. Harpoon Capital specializes in STR loans, using advanced STR Narrative Analysis and short-term rental data to qualify the property's cash flow rather than relying on traditional long-term lease appraisals.

Question 3

Do you look at my personal income, W-2s, or DTI?

Accepted Answer

No. DSCR loans are based primarily on the income-generating potential of the property rather than the borrower's personal income. We do not require tax returns, W-2s, pay stubs, or income or employment verification. Your Debt-to-Income (DTI) ratio is not calculated and we have options available for borrowers with credit scores down to just a 600 minimum.

Question 4

Can I get a DSCR loan for a rural cabin in Blue Ridge or the North Georgia Mountains?

Accepted Answer

Yes. Many traditional lenders and banks deny investment loans for rural properties, cabins, or homes on large acreage. Harpoon Capital specializes in North Georgia mountain vacation rentals, including Blue Ridge, Ellijay, and the surrounding areas, offering DSCR loans specifically designed for rural short-term rentals. While true log cabins are off limits, Harpoon Capital can typically make loans work for “cabin-style” properties that make up the majority of profitable rural STR investments.

Question 5

What happens if an investment property is currently vacant?

Accepted Answer

You can still get a DSCR loan on a vacant property. Harpoon Capital will use the appraiser's estimate of market rent (Form 1007) or short-term rental data platforms like AirDNA to project the income. The property does not need to be currently leased to close the loan.

Question 6

What's the minimum down payment on a Georgia DSCR loan?

Accepted Answer

Harpoon Capital offers some of the highest leverage in the industry, allowing for up to 85% Loan-to-Value (LTV) on purchase loans. This means the minimum down payment for a Georgia DSCR loan is just 15%, allowing real estate investors to keep more capital on hand to scale their portfolios.

Question 7

Do I need to live in Georgia to buy a rental property there?

Accepted Answer

No, out-of-state investors are highly encouraged to invest in Georgia. Georgia is a highly landlord-friendly state, making it a top destination for out-of-state capital. You can live anywhere in the United States and use a DSCR loan to purchase or refinance Georgia real estate.

Question 8

What is the minimum DSCR ratio required?

Accepted Answer

While a standard target DSCR is 1.00x (meaning the rent exactly covers the mortgage, taxes, and insurance), Harpoon Capital has flexible programs that allow for ratios below 1.00x. We offer No-Ratio or Negative Cash Flow loans for investors with strong credit and sufficient liquid reserves, a common structure on cabin-style short-term rentals.

Question 9

What credit score do I need for a DSCR loan?

Accepted Answer

The minimum FICO score required is 600. Higher scores unlock better pricing and our maximum LTV programs. Because we do not look at personal income, your credit score and the property's cash flow are the primary qualifying factors.

Question 10

Does Georgia have rent control laws I need to worry about?

Accepted Answer

No. Georgia explicitly bans rent control at the state level (O.C.G.A. § 44-7-19). Local municipalities and counties in Georgia cannot dictate how much a landlord can charge for rent. This makes Georgia one of the most attractive, free-market states for real estate investors.

Question 11

Do I need prior real estate investing experience to get a DSCR loan?

Accepted Answer

No prior landlord or real estate experience is required. First-time investors can utilize Harpoon Capital's DSCR loan programs to purchase their very first long-term rental or Airbnb property.

Question 12

Can I close a DSCR loan in an LLC?

Accepted Answer

Yes, closing in an LLC or corporate entity is highly encouraged and is the standard for Harpoon Capital DSCR loans. This provides you with personal liability protection and helps separate your business assets from your personal assets. Conventional Fannie Mae loans typically do not allow you to close in an LLC.

Question 13

Which Georgia cities and markets do you lend in?

Accepted Answer

Harpoon Capital lends statewide across Georgia. High-frequency markets include the Atlanta Metro for long-term and multifamily rentals, the North Georgia Mountains (Blue Ridge, Ellijay, Dahlonega) for cabin STRs, and the Georgia Coast (Savannah, Tybee Island, Brunswick) for vacation rentals.

Question 14

How is a DSCR loan different from a conventional investment property loan?

Accepted Answer

A conventional loan requires personal tax returns, W-2s, a strict Debt-to-Income (DTI) ratio, and must close in your personal name. A DSCR loan uses the property's rental income as the primary qualifying factor instead of your personal income, allows you to close in an LLC, and permits underwriting approaches like projected short-term rental revenue. Credit, reserves, and experience still factor into your terms.

Question 15

Are there prepayment penalties on DSCR loans?

Accepted Answer

Yes, standard DSCR loans typically come with a prepayment penalty (PPP) ranging from 1 to 5 years (e.g., a 5-4-3-2-1 or 3-2-1 structure). However, Harpoon Capital offers flexible options, allowing investors to buy down or completely waive the prepayment penalty if they plan to sell or refinance the property quickly. There are no restrictions in Georgia on what prepayment penalty structures can be offered, so investors in the Peach State will have access to all the available options.

Question 16

Are interest rates higher on DSCR loans compared to traditional mortgages?

Accepted Answer

DSCR loan rates are generally 0.75% to 1.5% higher than primary residence conventional mortgages. However, real estate investors gladly accept this slight premium to gain the ability to close in an LLC, utilize projected revenue, skip tax return requirements, and scale their portfolios without DTI limits.

Question 17

How long does it take to close a DSCR loan?

Accepted Answer

DSCR loans close much faster than conventional bank loans because there is no personal income underwriting. Harpoon Capital typically closes DSCR and STR loans in 14 to 21 days, assuming third-party reports like the appraisal and title work are returned promptly.

Question 18

Can I use a DSCR loan to buy a multifamily property in Georgia?

Accepted Answer

Yes. DSCR loans are available for multifamily properties, including duplexes, triplexes, and quadplexes, with programs extending up to 9-unit buildings. Small multifamily is a common way for Georgia investors to add units without adding separate loans for each property.

Question 19

Does Harpoon Capital finance BRRRR strategy investments?

Accepted Answer

Yes, the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy pairs perfectly with our loans. Once your rehab is complete and the property is leased or listed on Airbnb, you can use a DSCR cash-out refinance to pull your initial capital back out based on the new After Repair Value (ARV).

Question 20

How soon can I do a cash-out refinance on a recently rehabbed property?

Accepted Answer

Harpoon Capital offers flexible seasoning requirements, including no-seasoning cash-out options. If you have completed documented improvements to the property, you can often use the new, higher appraised value for a cash-out refinance right away, rather than waiting the 12 months many lenders require.

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